Liz Claiborne Inc. (NYSE: LIZ ) might live to fight another day, but it's
going to do so without … well, Liz Claiborne. The fashion retailer dropped a
bomb Wednesday when it announced it would be selling off several brands
including the Liz Claiborne name itself to turn around a struggling business
that had seen annual revenue slashed from 2006 through 2010. The stock saw its
first sign of aggressive life in more than a month, jumping 34% to end the day
at $6.84 and regaining almost all of the 25% loss LIZ suffered during the past
12 months. Liz Claiborne Inc. will retain such high-end brands as Juicy Couture,
which sells everything from dresses to sleepwear to jewelry; Lucky Brand, known
for its $100 jeans; and kate spade, which sells luxury handbags among other
fashionable clothing and accessories. Also making headway toward prices from
better times was LinkedIn (NYSE: LNKD ), the professional social media site that
publicly offered in May. LNKD gained almost 10% on Wednesday a day after the
company acquired enterprise search engine IndexTank which was less than a week
removed from its purchase of software maker Connected. LinkedIn which is
becoming increasingly attractive to Indian workers finished the day at $82.36.
The company hasn't ended a trading day that high in almost a month, but LNKD
shares still are about 12% shy of their IPO value. Three Up Sprint Nextel (NYSE:
S ): Up 7.98% (19 cents) to $2.57. Royal Caribbean Cruises (NYSE: RCL ): Up
6.62% ($1.56) to $25.12. Melco Crown Entertainment (NASDAQ: MPEL ): Up 6.49% (67
cents) to $11. Three Down Buckle (NYSE: BKE ): Down 9.04% ($4.08) to $41.06.
Western Digital Corp. (NYSE: WDC ): Down 4.61% ($1.33) to $27.55. Alcoa Inc.
(NYSE: AA ): Down 2.43% (25 cents) to $10.05. As of this writing, Kyle Woodley
did not own a position in any of the aforementioned stocks.
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